2697 replies to this topic

[MarkoJ]

[Barrrister]

Inventory seems to be going up albeit slowly.

[Victoria Watcher]

Vancouver Island average listing prices up almost 33 per cent in one year: BCREA

https://www.cheknews...r-bcrea-987267/

Edited by Victoria Watcher, 14 March 2022 - 08:45 AM.

[MarkoJ]

[MarkoJ]

[LocalMom]

MarkoJ: is it true that many buyers locally are in fact from elsewhere and therefore they are buying but thereby not putting anything into the local market to sell? Or is that just ‘what ppl are saying’?

Edited by LocalMom, 21 March 2022 - 09:22 PM.

[MarkoJ]

MarkoJ: is it true that many buyers locally are in fact from elsewhere and therefore they are buying but thereby not putting anything into the local market to sell? Or is that just ‘what ppl are saying’?

Approx 1/4 are from out of town. 3/4 are locals.

[lanforod]

Y'ow that's not sustainable at all.

[Barrrister]

I suspect the percentage of out of town is higher for SFH and for high end properties.

[Mike K.]

BC is also absorbing the 20-29 demographic from Alberta and Ontario at a higher rate than those provinces can naturally fill that demographic. That’s putting a lot of pressure on the rental market.

[MarkoJ]

Looks like we will finish maybe high 800s for the month.

 

[MarkoJ]

[Barrrister]

More inventory pickup than last year but not by any dramatic amount.

[Mike K.]

Are you sure you're not reading that backwards, Barrrister? March of 2022 had the lowest rate of active inventory on record for the month.

 

Here are more details:

 

Start of Victoria's 2022 spring buying season sets $1.426M house price record amid historic inventory lows

https://victoria.cit...inventory-lows/

[MarkoJ]

[MarkoJ]

[Barrrister]

I was looking at new listings minus sales. Absolutely agree that the amount of inventory is unbelievably low.

[MarkoJ]

Will start to climb this month especially if BOC does 0.5% on Wednesday.

[Mike K.]

Sounds like lots of banks are offering five year rates at 3.99%.

[MarkoJ]